Career Banker to Succeed Cameron Clyne, Who Is Stepping Down for Family Reason

SYDNEY--National Australia Bank Ltd. turned to career banker Andrew Thorburn as its next chief executive, handing him a brief to sort out the lender's struggling U.K. banking businesses that have dogged its financial performance for years.

The management reshuffle was sparked by Cameron Clyne's decision to step down as chief executive of Australia's fourth-largest lender by market value in August after more than five years. Mr. Clyne...